7 Great Flexible Employee Benefits
Employee Health and Wellbeing
Employee health and wellbeing is moving up the priority list when it comes to HR objectives which is why many businesses are keen to promote healthier lifestyles. This might include benefits such as a cycle to work scheme, reduced membership fees at health clubs, leisure centres and gyms, or an Employee Assistance Programme to help employees with their mental wellbeing.
Flexible working enables employees to have a better work-life balance: giving them the flexibility to meet their personal obligations and family needs. There are also additional benefits as it gives employees a feeling of control over their working schedule or location, it reduces employee burnout, and it can help reduce stress levelsassociated with rush hour commuting. For the employer this means that flexible working practices can support employee engagement, improve morale, and increase staff retention.
According to a recent report by the Trades Union Congress (TUC) the average wage fell by almost £500 in real terms in 2014, but you can help employees minimise the affect of cost of living rises and pay freezes with a cashback card. Offering cashback cardsas an employee benefit enables your employees to make savings of over £500 per year by earning cashback at leading high street retailers and supermarkets simply by using the card to make their normal everyday purchases. Employees can conveniently top up the card funds before they use it and then they get between 3% and 5% when spending in-store or online.
Employees love a day out whether it’s with a friend, partner or family which is why benefits that offer discounted days out are so popular. Your employees can use their benefits to have a adrenaline filled driving day, a relaxing spa treatment or a day out a theme park.
Family Focused Benefits
It’s important that we all have the right work-life balance to suit our own individual needs, which is why family focused benefits are always appreciated and sought after. Family focused benefits such as extra annual leave purchase schemes can reduce absenteeism and positively influence productivity.It’s also a benefit that has a wide appeal to every employee. Additionally childcare voucher schemes help employees save money on the high costs of childcare and are very popular amongst employees with families.
We’re all trying to make our money go further and offering employees discounts on a range of items such as cinema trips, gym membership and travel helps employees save money and increase their spending power without always having to give them a pay rise. Discount voucher schemes offer employees ‘preferential’ discounts and savings usually from a long list of high street brands, so employees can choose the discounts that are relevant to them.
Financial education programmes
Despite the improving economic situation many employees are still struggling with the personal finances. Stress caused by money problems can negatively affect an employees performance at work, which is why financial education programmes can give your employees the knowledge to learn about relevant aspects of money, investments and budgeting. You can work with an Independent Financial Adviser (IFA) to provide individual guidance to your employees or run some workshops during the working day on a range of topics, such as pensions and budgeting properly.
John Sylvester has been largely responsible for the development and growth of the motivation & incentive discipline with P&MM.
Having worked in the motivation agency business since completing a business degree in 1984, John joined P&MM in 1989 and the main board in 1996.